House prices head for 6% fall

House prices are heading for a 6 per cent fall in real terms this year, according to the latest data from the country’s biggest mortgage lender.

The Halifax House Price Index, published yesterday, showed a weakening in property values of 0.9 per cent in February, wiping out the 0.8 per cent gain in January. Earlier this week the Nationwide Building Society registered a 0.3 per cent rise in prices last month.